Yes! Life Changing they are!
We have gathered our top 5 Property Investment Tips that you must know before starting your property investment journey. Learn from our mistakes and become a successful investor where the money goes into your pocket rather than empty them.
If you are not much of a reader, check out our Youtube video right here. It will share the same 5 property investment tips we have written below:
Did you know that a Property investor and an Olympic swimmer follow the exact same routine to become successful?
Maybe not, right? And no, we have not become crazy all of a sudden. Instead, let us dig in and see what those 5 property investments tips are that both a Swimmer and a property Investor follows in order to become successful:
Property Investment Tip 1: Be Educated
Before a race, the swimmer needs to go through a longer period of preparation. That includes proper nutrition, the right amount of training, rest, and mental preparation. On the day of the race, he also has some preparation to do in terms of shaving, clothing, warming up, and again setting up the right mental state before jumping into the water.
Why do you think this would be different for a property investor? Preparation is key in order to make the right decision.
Fabrizio Cravero did his first investment without proper education and preparation. It was a painful mistake that cost him a fortune to recover from. Learning it the hard way his first tip on the list is to: Educate yourself. Don’t just jump into the water and hope you can swim. Learn the skills, get the proper education and learn the numbers so you are prepared for the actual race.
For Tip number 1 we will leave you with the quote of one of the most successful business people on earth: “The more you learn, The more you Earn” Warren Buffet.
Property Investment Tip 2: Take action and Stop Procrastination
It seems so obvious that we shouldn’t even mention it. However, it unbelievable how many people keep running from opportunity to opportunity just like a dog chasings its own tale. If you listen to your friends and coworkers you might believe that the best investment will be in the stock market one month, then in Bitcoin the next, and the third month in property. Going back and forth from idea to idea keeps you excited but on the bottom line, it doesn’t let you go anywhere other than round and round.
Tip number 2 therefore is: Make one choice and go for it. Take action and make it happen. With the right preparation behind and one strategy to follow, you will notice how fast you can actually move forward and start earning an income from your investments.
Remember, building real wealth is not an overnight achievement. It takes time. The best time to start Property Investment was 10 years ago but the next best time to start is right now. You will not grow younger so start early and keep building your portfolio and within a few years, your income will be stable, significant and will let you live off it with peace in mind.
Property Investment Tip 3: Planning
Oh my, you might say. Planning! It sounds so boring and it sounds like something you do not want to do. But what if we told you you can save thousands of pounds by doing a little planning beforehand?
Suddenly planning doesn’t sound so boring right?
Planning will be your best friend and so will your power team. Your power team consists of an Accountant, Mortgage broker, and Foreign Exchange Broker. The Accountant will help you clarify the difference between investing through your own private name or through a limited company that you can set up in the UK. Depending on your goal and your preparation (tip number 1) you can decide together with the accountant which way is the right way for you.
The Mortgage broker will be your go-to person in terms of refinancing your property and how to make your money work the best way for you. The Mortgage Broker will help you gain the highest possible Return on Investment (ROI) which will determine the success of your investment.
And finally the Foreign Exchange Broker will help you save thousands in valuta exchange rates. He will know when is the best time to make the exchange and he will also find a legit company to do so through. This will save you the hassle with the bank and as well a big fortune, which will have a positive effect on your ROI.
Property Investment Tip 4: Repeat the strategy
It’s important to understand that with property investment you do not get wealthy with 1 property only. Most people think that by purchasing the home they live in they are making a good investment. Please understand that the home you live in can NEVER be an investment for yourself as it takes money out of your pocket every single month. It might become wealth for your kids when you pass away but it is not an investment that can make you financially free and live from the income you make by purchasing your own flat, house, or villa.
When choosing Property as your way of investing your money, understand that more properties are required in order to earn a substantial income (also known as a property portfolio).
Therefore our property investment tip number 4 is to: Repeat the Strategy.
Fabrizio Cravero likes to teach his students the BRRRR Method strategy that stands for “Buy, Refurb, Rent, Refinance, Repeat”. >>> You can read everything in details about this strategy and how to use it, even as a foreign investor in this article <<<
Once you have done your first investment successfully you should aim to repeat the process again and again, by using the BRRRR method mentioned above.
Property Investment Tip 5: Create And Accomplish Your Goals
Always start with the end in mind and understand the full picture and vision of your journey. Like with anything in life it’s important to have goals for where you want to move toward.
When you travel, you already know the destination of your journey before you start. Like this, you can find the easiest, cheapest, or fastest route to where you want to go. The exact same thing goes for Property Investment and our 5th and last top Property investments tips is to: Create and accomplish your goals.
We recommend that you write down your goals on a piece of paper and keep it visible for yourself for the days that your motivation goes down, an issue comes along or you just feel it’s too much work.
Examples of certain goals could be:
- Create passive income
- Quit your job
- Help your spouse economically
- Provide for your kids
- Retire early
Conclusion
It might seem like there is a lot of uncertainty on the property market, but rest assured that by the tips above and in this article with additional tips on how to invest your money in property, you should have a flying start. Our ultimate goal is to educate you and help you start your investment journey in the best possible way.
Our top 5 Property Investment Tips are going to make the foundation for yourself and your future investments. If you follow them we promise you will be a step ahead already.
We would love to hear if these property investment tips have helped you by commenting below or by sending us an email at: fab@fabriziocravero.com
